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JSW Infrastructure expects to decide on a public listing within a year to raise funds for building a greenfield port, said chief financial officer Lalit Singhvi.
“The IPO is need-based. As and when we take up any new or greenfield project, we will raise funds via equity and keep debt under control. We hope something should materialize over the next 6-12 months. With that, we are prepared to go for IPO. You can expect an announcement in a year’s time,” Singhvi said in an interview.
“We have a good balance sheet and right now it is 100% owned by the Jindal family; we can very well dilute and have aspirations to list this company soon but prior to that we must have good growth plan and for that we are looking for some greenfield opportunities or some new acquisitions,” Singhvi added. JSW Infra plans to focus on bidding for ports under public-private partnership programmes and greenfield projects with investments spread over 4-5 years, he said.
For greenfield projects, it is considering locations that can guarantee a certain demand; the immediate options could be sites where JSW group companies have plans to build significant capacities, he said, adding it would require ₹4,000-5,000 crore to a build a greenfield port over 3-5 years.
JSW Infra’s net debt is expected to reach about ₹2,700 crore with cash reserves of about ₹1,600 crore by the end of FY23, said Singhvi. While there is no plan to raise debt, there is headroom for it if needed for a project, he said.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
